Citigroup Inc. Has $44.02 Million Stock Holdings in LKQ Corporation (NASDAQ:LKQ)

Key Points

• Citigroup Inc. increased its stake in LKQ Corporation by 140.8% in the first quarter, acquiring an additional 605,082 shares, bringing its total ownership to 1,034,852 shares valued at approximately $44 million.
• LKQ Corporation has received mixed ratings from analysts, with an average consensus rating of "Moderate Buy" and a target price of $51.40, although some analysts have recently downgraded their ratings.
• The company reported earnings per share (EPS) of $0.87 for the last quarter, missing estimates, while total revenue was $3.64 billion, slightly exceeding analyst expectations.

Citigroup Inc. increased its position in shares of LKQ Corporation (NASDAQ:LKQ - Free Report) by 140.8% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,034,852 shares of the auto parts company's stock after acquiring an additional 605,082 shares during the period. Citigroup Inc. owned about 0.40% of LKQ worth $44,023,000 at the end of the most recent quarter.

Several other hedge funds have also recently bought and sold shares of the company. Cambridge Investment Research Advisors Inc. increased its position in LKQ by 1.5% during the 1st quarter. Cambridge Investment Research Advisors Inc. now owns 18,774 shares of the auto parts company's stock worth $799,000 after purchasing an additional 286 shares in the last quarter. Bank of Nova Scotia increased its position in shares of LKQ by 1.0% in the 4th quarter. Bank of Nova Scotia now owns 34,192 shares of the auto parts company's stock worth $1,257,000 after purchasing an additional 331 shares during the last quarter. MetLife Investment Management LLC grew its position in shares of LKQ by 0.5% in the 4th quarter. MetLife Investment Management LLC now owns 68,790 shares of the auto parts company's stock worth $2,528,000 after acquiring an additional 352 shares in the last quarter. United Capital Financial Advisors LLC raised its holdings in shares of LKQ by 6.3% during the fourth quarter. United Capital Financial Advisors LLC now owns 6,436 shares of the auto parts company's stock worth $237,000 after purchasing an additional 382 shares during the period. Finally, Wahed Invest LLC boosted its holdings in shares of LKQ by 6.4% in the 4th quarter. Wahed Invest LLC now owns 6,779 shares of the auto parts company's stock valued at $249,000 after buying an additional 405 shares during the period. Institutional investors and hedge funds own 95.63% of the company's stock.

LKQ Price Performance

NASDAQ:LKQ traded up $1.59 during mid-day trading on Wednesday, reaching $31.71. 4,303,012 shares of the company were exchanged, compared to its average volume of 2,590,027. LKQ Corporation has a 12 month low of $28.92 and a 12 month high of $44.82. The company has a fifty day moving average of $35.73 and a 200 day moving average of $38.84. The company has a quick ratio of 0.69, a current ratio of 1.81 and a debt-to-equity ratio of 0.19. The stock has a market cap of $8.16 billion, a PE ratio of 11.62 and a beta of 0.92.

LKQ (NASDAQ:LKQ - Get Free Report) last issued its quarterly earnings results on Thursday, July 24th. The auto parts company reported $0.87 earnings per share for the quarter, missing analysts' consensus estimates of $0.93 by ($0.06). The company had revenue of $3.64 billion during the quarter, compared to analyst estimates of $3.62 billion. LKQ had a net margin of 5.04% and a return on equity of 13.85%. The business's revenue for the quarter was down 1.6% on a year-over-year basis. During the same period in the prior year, the business earned $0.98 EPS. On average, research analysts anticipate that LKQ Corporation will post 3.57 EPS for the current fiscal year.

LKQ Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Thursday, August 28th. Shareholders of record on Thursday, August 14th will be issued a dividend of $0.30 per share. This represents a $1.20 dividend on an annualized basis and a yield of 3.8%. The ex-dividend date of this dividend is Thursday, August 14th. LKQ's payout ratio is currently 43.96%.

Analyst Upgrades and Downgrades

A number of brokerages have recently weighed in on LKQ. Barrington Research reiterated an "outperform" rating and set a $60.00 price target on shares of LKQ in a research report on Tuesday, July 22nd. Wall Street Zen cut LKQ from a "buy" rating to a "hold" rating in a research report on Wednesday, May 21st. Finally, Robert W. Baird decreased their price objective on LKQ from $48.00 to $42.00 and set an "outperform" rating for the company in a report on Friday, July 25th. One investment analyst has rated the stock with a hold rating and five have given a buy rating to the company's stock. According to data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and an average target price of $51.40.

LKQ Company Profile

LKQ Corporation engages in the distribution of replacement parts, components, and systems used in the repair and maintenance of vehicles and specialty vehicle aftermarket products and accessories. It operates through four segments: Wholesale-North America, Europe, Specialty, and Self Service. The company distributes bumper covers, automotive body panels, and lights, as well as mechanical automotive parts and accessories; salvage products, including mechanical and collision parts comprising engines; transmissions; door assemblies; sheet metal products, such as trunk lids, fenders, and hoods; lights and bumper assemblies; scrap metal and other materials to metals recyclers; and brake pads, discs and sensors, clutches, steering and suspension products, filters, and oil and automotive fluids, as well as electrical products, including spark plugs and batteries.